Notice of acquisition of Hermes Systems Inc. stock (subsidiary acquisition)

Nov. 8, 2019

As of November 8, 2019, Shindengen Electric Manufacturing Co., Ltd. has acquired all stock of software development company Hermes System Inc., which will now be a subsidiary of Shindengen.

1.Purpose of the stock acquisition

We continue to expand our business in the mobility market which is a key market for our company. In order to respond to this market's diversifying needs of recent years, exemplified by the keywords "CASE" and "ADAS", the importance of software technologies is growing in a wide range of fields.
This stock acquisition further strengthens our group's software technology, making it possible for us to fulfill a larger variety of needs in environmental regulations, safety functions, and other areas, which enables further business expansion.

2.Future business development

We will work to maximize the resources we have gained through this stock acquisition and work towards integrating them with the group as quickly as possible. The impact on our company's consolidated business performance is expected to be minimal.

3.Contact information